Slides
Page 1
O C T O B E R 2026 INVESTOR RELATIONS FINANCIAL PERFORMANCE –Q2 FY27 OCTOBER28, 2026
Page 2
1w w w . e c l e r x . c o m CONFIDENTIAL Financial Summary Metrics FY27 Q2 Q-o-Q FY27 H1 Y-o-Y Revenue OPG revenue (USD mm) $127.7 1.5% $253.6 12.8% OPG revenue (INR mm) 11,887 3.2% 23,410 20.7% Total revenue (INR mm) 12,126 3.6% 23,829 20.3% Profit OPG EBITDA (INR mm) 2,839 7.0% 5,491 11.6% EBITDA (INR mm) 3,079 8.8% 5,910 10.9% EBIT (INR mm) 2,521 8.0% 4,855 7.1% PAT (INR mm) 1,804 9.8% 3,447 6.1% Margin (%) OPG EBITDA (%) 23.9% 87 bps 23.5% -191 Bps EBITDA (%) 25.4% 120 bps 24.8% -211 bps EBIT (%) 20.8% 83 bps 20.4% -253 bps PAT (%) 14.9% 83 bps 14.5% -194 bps * EBIT includes other income and excludes rental interest under IND AS116 • Q2FY27 YoY constant currency (CC) growth of 12.9%; QoQ CC growth of 1.6%
Page 3
2w w w . e c l e r x . c o m CONFIDENTIAL 26,479 29,225 7,819 9,346 11,524 8,318 10,049 11,887 8,538 10,703 8,983 11,073 FY23 FY24 FY25 FY26 YTD FY27 OPG Revenue in INR (Mn) 33,659 41,170 23,410 Key Financial Indicators (1) 1,870 1,750 1,873 2,346 2,831 2,023 2,189 2,288 2,983 3,0792,084 2,280 2,281 3,0752,119 2,186 2,505 3,121 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 FY23 FY24 FY25 FY26 YTD FY27 EBITDA (INR Mn) Q4 Q3 Q2 Q1 11,526 8,9468,4048,097 5,910 992 1,063 1,116 1,417 1,643 1,259 1,360 1,402 1,832 1,804 1,312 1,386 1,371 1,920 1,325 1,305 1,522 1,894 - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 FY23 FY24 FY25 FY26 YTD FY27 PAT (INR Mn) Q4 Q3 Q2 Q1 7,062 5,4115,1154,888 3,447 29.7% 25.8% 23.7% 29.0% 23.8% 24.7% FY23 FY24 FY25 FY26 Q1 FY27 Q2 FY27 Return on Equity (%)
Page 4
3w w w . e c l e r x . c o m CONFIDENTIAL Key Financial Indicators (2) 62.4% 62.6% 73.2% 75.7% 37.9% 87.5% F Y 2 3 F Y 2 4 F Y 2 5 F Y 2 6 Q 1 F Y 2 7 Q 2 F Y 2 7 EBITDA conversion (%) 6,563 10,839 10,508 12,810 12,589 14,318 5,050 5,259 6,546 8,729 1,073 2,694 FY23 FY24 FY25* FY26* Q1 FY27 Q2 FY27 Cash and Cash Equivalents and Net Operating Cash flow (INR Mn) Cash and Cash Equivalents Net Operating Cash Flow 179 233 246 278 300 318 68 112 112 139 137 156 FY23 FY24 FY25* FY26* Q1 FY27 Q2 FY27 Book value and Cash & Cash Equivalents (INR) Current Book Value per share Cash and Cash Equivalents per share 684 864 1,202 161 334 336 585 267 404 FY23 FY24 FY25 FY26 YTD FY27 Capex (INR Mn) 1,169 919 57.1 76.2 17.9 19.6 56.0 74.4 17.6 19.3 FY25 FY26 Q1 FY27 Q2 FY27 EPS (INR) Basic Diluted *Effective Q4FY25 we have included Deposits more than 12 months Changes in historical numbers due to Bonus issued in Q4 FY26
Page 5
4w w w . e c l e r x . c o m CONFIDENTIAL Other Income * Gain / Loss regrouped as other income/expenses based on profit or loss position in the press release financials • Revaluation Income: Increased due to INR depreciation against USD. • Revaluation and Realised Gain - USD/INR FY27 Q2 Exit: 95.87 vs. FY27 Q1 Exit: 94.56 - EUR/INR FY27 Q2 Exit:108.88 vs. FY27 Q1 Exit:108.01 - GBP/INR FY27 Q2 Exit:127.26 vs. FY27 Q1 Exit:125.47 Other Income FY27 Q2 FY27 Q1 FY26 Q4 FY26 Q3 FY26 Q2 Investment Income 106.3 98.8 122.1 124.0 108.4 Revaluation Income* 90.3 35.7 105.7 64.1 186.1 Others 43.3 44.1 53.0 125.3 9.4 Total 239.9 178.6 280.8 313.4 303.9 Figures in INR millions.
Page 6
5w w w . e c l e r x . c o m CONFIDENTIAL 19.6 22.9 18.3 21.6 18.2 29.3 24.4 19.0 26.8 28.9 33.0 48.6 32.3 46.0 45.5 46.1 40.8 30.8 Q1'FY23 Q2'FY23 Q3'FY23 Q4'FY23 Q1'FY24 Q2'FY24 Q3'FY24 Q4'FY24 Q1'FY25 Q2'FY25 Q3'FY25 Q4'FY25 Q1'FY26 Q2'FY26 Q3'FY26 Q4'FY26 Q1'FY27 Q2'FY27 ACV of new deals (excludes CLX) 14.8 16.3 20.2 25.9 14.8 18.1 21.4 27.216.2 19.8 23.616.2 19.0 24.2 FY23 FY24 FY25 FY26 FY27 YTD A&A Revenue Revenue, A&A and ACV Amounts in $ mm 82.4 MM 91.0 MM 61.965.3 20.0 53.1 73.2 137.4 MM Q1'26 Q2’26 Q3’26 Q4’26 FY26 Q1’27 Q2’27 BFSI 43.2% 41.4% 40.1% 38.7% 40.8% 37.6% 38.1% CMT 25.4% 25.9% 25.0% 26.6% 25.7% 26.2% 25.8% HiTech and M&D 16.5% 16.7% 16.8% 16.0% 16.5% 16.3% 16.0% Fashion & Luxury and Retail 9.0% 8.4% 8.7% 8.4% 8.6% 8.2% 7.5% Emerging 5.9% 7.7% 9.5% 10.2% 8.4% 11.7% 12.6% Total 100% 100% 100% 100% 100% 100% 100% Revenue by Industries 89.5 169.9 MM 71.6 MM
Page 7
6w w w . e c l e r x . c o m CONFIDENTIAL Hedge Updates Current Hedge Status • Current total outstanding hedges at $282.7 mm at average INR 95.46/$; 100% forwards Contract Year Currency Amount (mm) Avg. Rate (INR) Matured Forwards FY26 Q2 $52.80 85.94 FY26 Q3 $52.80 86.22 FY26 Q4 $47.60 87.38 Total FY26 USD $206.00 $86.17 FY27 Q1 $60.40 88.26 FY27 Q2 $56.00 89.92 Outstanding Forwards FY27 Q3 $57.60 91.66 FY27 Q4 $57.60 93.51 Total FY27 USD $115.2 92.58 FY28 Q1 $45.40 94.70 FY28 Q2 $48.60 97.08 FY28 Q3 $34.80 98.40 FY28 Q4 $22.50 99.62 Total FY28 USD $151.3 97.05 FY29 Q1 $10.8 100.86 FY29 Q2 $5.40 101.55 Total FY29 USD $16.2 101.09 Total Outstanding USD $282.7 95.46
Page 8
7w w w . e c l e r x . c o m CONFIDENTIAL P&L Comparison Operating P&L FY27 Q2 OPR (%) FY27 Q1 OPR (%) Operating Revenue $ $127.7 $125.9 Total Revenue* 12,126 11,702 Operating Revenue 11,887 11,524 Cost of Revenues Delivery and Support Employees Cost 6,470 54.4% 6,401 55.6% General and Administrative Expenses Facilities (Rent and Electricity) 172 1.4% 160 1.4% Technological Services (Communications, AMC) 296 2.5% 289 2.5% Administrative Services (Transport, HK, Security) 137 1.2% 131 1.1% Legal and Professional Fees 224 1.9% 190 1.6% Provision / Written off for Bad Debt (0) 0.0% 5 0.0% CSR 29 0.2% 28 0.2% Others 181 1.5% 189 1.6% Total G&A 1,038 8.7% 990 8.6% Selling and Distribution 1,541 13.0% 1,480 12.8% Operating EBITDA 2,839 23.9% 2,652 23.0% EBITDA^ 3,079 25.4% 2,831 24.2% Depreciation and Amortization (Inc. rent as per IND AS116) 558 4.7% 496 4.3% EBIT^ 2,521 20.8% 2,335 20.0% * Forex Gain / Loss and gain / loss on sale of tangible assets regrouped as other income/expenses in the press release financials ^ EBITDA and EBIT % on Total Revenue Figures in INR millions.
Page 9
8w w w . e c l e r x . c o m CONFIDENTIAL Key Revenue Metrics *Other smaller currencies, geographies and client contribution not shown FY27 Q2 FY27 Q1 FY26 Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY25 Q4 FY25 Q3 FY25 Q2 Currency Contribution (%) USD 88% 87% 86% 86% 86% 86% 86% 86% 87% EURO 7% 8% 8% 8% 8% 8% 8% 8% 8% GBP 3% 3% 3% 3% 3% 3% 3% 3% 3% Others 2% 2% 3% 3% 3% 3% 3% 3% 2% Geographic Concentration* North America 82% 78% 78% 80% 80% 79% 78% 76% 76% Europe 14% 16% 17% 14% 14% 15% 14% 16% 16% ROW 4% 6% 5% 6% 6% 6% 8% 8% 8% Client Concentration Top 10 contribution 60% 60% 59% 60% 63% 63% 64% 62% 63% Billing Mix BPaaS 19% 19% 18% 19% 18% 19% 19% 19% 20% Onshore Revenue 17% 18% 18% 18% 19% 20% 21% 21% 20% Client Contribution (based on TTM revenue) US$ 500k-1mm Clients 41 42 44 44 44 42 37 36 36 US$ 1mm-3mm Clients 32 28 27 27 26 24 25 24 25 US$ 3mm ++ Clients 25 25 24 22 20 19 18 18 18 DSO Days 79 79 81 78 76 86 80 83 77
Page 10
9w w w . e c l e r x . c o m CONFIDENTIAL Revenue Mix Trends ($mm) % Growth is measured at quarterly YoY level 56.1% 30.8% 28.3% 27.0% 17.7% 23.6% 35.1% 19.7% 5.6% 19.9% 7.6% 21.6% 12.5% 20.0% $72.4 15.4% $73.5 17.3% $72.6 7.9% $75.4 9.3% $76.7 5.9% $36.0 27.2% $40.8 34.6% $42.1 41.0% $42.8 28.8% $44.0 22.3% $7.1 (8.6%) $7.4 (3.3%) $7.8 0.3% $7.6 9.2% $7.0 (1.7%) FY26 Q2 FY26 Q3 FY26 Q4 FY27 Q1 FY27 Q2 Strategic (Top 10 clients) Emerging ($ 0.5 mm + ) Emerging (others)
Page 11
10w w w . e c l e r x . c o m CONFIDENTIAL FY27 Q2 FY27 Q1 FY26 Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY25 Q4 FY25 Q3 FY25 Q2 Staff Utilization (Delivery) Staff Utilization (Delivery) 74.9% 75.5% 74.2% 76.5% 75.1% 72.8% 73.2% 73.2% 74.1% India Seat Count India Seat Count 16,824 15,420 15,507 15,519 15,140 14,731 13,976 13,810 12,009 Headcount Offshore Delivery 19,029 18,305 18,586 18,147 17,754 16,865 15,925 15,260 14,861 Onshore Delivery 717 732 741 652 651 655 656 627 637 Support Services 1,087 1,078 1,082 1,060 1,021 995 941 923 907 Tech Services 2,318 2,261 2,109 1,988 1,867 1,746 1,745 1,704 1,699 Business Development 118 123 121 120 122 124 122 128 123 Total 23,269 22,499 22,639 21,967 21,415 20,385 19,389 18,642 18,227 Offshore Voluntary Attrition Offshore Voluntary Attrition 23.4% 18.1% 21.7% 19.3% 20.3% 17.6% 24.3% 18.8% 28.8% Key Headcount Metrics Women Employees (%) Women Employees (%) 40.0% 39.7% 39.1% 39.2% 39.9% 39.3% 38.8% 38.5% 38.7%
Page 12
11w w w . e c l e r x . c o m CONFIDENTIAL Balance Sheet Abstract Particulars September 30, 2026 March 31, 2026 % Change Shareholder's Funds Capital 918 920 0% Minority Interest 30 28 4% Reserves and Surplus 28,234 24,694 14% Total Shareholder's Funds 29,181 25,642 14% Application of Funds Fixed Assets 7,699 7,228 7% Right to Use Assets (IND AS116) 4,483 3,361 33% Lease Liability (IND AS116) (5,107) (3,850) 33% Deferred Tax Assets (net) 1,034 1,103 -6% Net Current Assets & Investments 21,073 17,800 18% Total Application of Funds 29,181 25,642 14% Figures in INR millions.
Page 13
12w w w . e c l e r x . c o m CONFIDENTIAL Thank You This presentation contains forward-looking statements, inter-alia, to enable investors to comprehend company’s prospects and take informed investment decisions. This report and other statements - written and oral - that we periodically make, contain forward-looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipate’, ‘estimate’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’ and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realized, although we believe we have been prudent in assumptions. The achievement of results is, inter-alia, subject to assumptions, risks, uncertainties, including but not limited to our ability to successfully conclude and integrate (potential) acquisition(s) and general regulatory and economic conditions affecting the industry. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated, expected or projected. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further this presentation may also contain references to findings of various reports available in public domain. We make no representation as to their accuracy or that we necessarily subscribe to those findings. Figures for previous periods / year have been regrouped, wherever necessary.
Page 14
- 1 - eClerx’s Q2 FY27 revenue at INR 1,212.6 crore, up by 17.1% YoY Mumbai, October 28, 2026: eClerx Services Ltd ( NSE: ECLERX; BSE code 532927 ), a global leader in AI -powered analytics, digital operations, automation, and business process management, today announced its financial results for the quarter ended September 30, 2026. eClerx empowers the world’s largest enterprises with intelligent operations and insights, providing core business process solutions and data analytics from its global delivery centres. Consolidated financial highlights for the quarter ended September, 2026 Operating revenue for the quarter ended September 30, 2026 was INR 1,188.7 crore vs. INR 1,004.9 crore corresponding period last year, YoY increase of 18.3%. In USD terms, operating revenue increased by 10.6% to USD 127.7 Million as compared to USD 115.5 Million last year. Total revenue including other income for the period was INR 1,212.6 crore, YoY increase by 17.1%. • Operating EBIT for the period is INR 228.1 crore, reflecting 5.8% sequential growth and 1.2% Y-o-Y growth. • Profit after tax for the quarter ended September, 2026 was INR 1 80.4 crore compared with INR 164.3 crore in the previous quarter, reflecting 9.8% sequential growth. • On a half -yearly basis, total revenue increased 20.3% to INR 2,382.9 crore, while Net Profit increased 6.1% to INR 344.7 crore. • Basic EPS for the quarter ended September, 2026 was INR 1 9.63 as compared to INR 19.50 last year. • The total delivery headcount as of September, 2026 stands at 2 3,151 – an increase of 8.7% YoY.
Page 15
- 2 - About eClerx Services Ltd: eClerx provides AI -powered analytics, digital operations services, automation, and business process management to help clients unlock growth and drive business outcomes. eClerx partners with Fortune 500 enterprises across financial services, telecom, media & entertainment, luxury, retail & fashion, and manufacturing. A publicly listed company, eClerx operates across 17 countries with around 23,300 employees, serving clients globally across the Americas, APAC, and EMEA. For more information, visit www.eclerx.com. For further information, please contact: Srinivasan Nadadhur eClerx Services Ltd. Email: srinivasan.nadadhur@eclerx.com Asha Gupta Ernst & Young LLP Email: asha.gupta@in.ey.com Disclaimer: Certain statements made in this release concerning our future growth prospects may be interpreted as forward looking statements, which involve a number of risks and uncertainties that could cause the actual results to differ materially from those in such forward looking statements. Investors are requested to use their discretion in relying on them. We do not undertake to update any forward-looking statements that may be made from time to time.